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How to use feedback to drive organizational success How to use feedback to drive organizational success 1 Rusty Lindquist VP of HCM STRATEGY & IP BambooHR www.bamboohr.com life-engineering.com @bamboohr @rustylindquist Jacob Shriar Director of content Officevibe www.officevibe.com jacobshriar.com @officevibe @jacobshriar 2 Feedback as key to organizational progress 4 The most competitive economy in history 5 âBersin by Deloitte 6 â Ram Charan Best-selling Author, World-renowned Business Advisor 7 FEEDBACK SYSTEMS 8 -Workboard 9 Feedback and Employee Engagement 10 Employee Feedback Statistics 14.9% lower turnover rates in companies that implement regular employee feedback. 2X as likely to be actively disengaged if employees are ignored by their manager. 65% of employees said they wanted more feedback 58% of managers think they give enough. These statistics show that there is clearly something wrong with the way feedback is done in most companies. (source: https://www.officevibe.com/blog/infographic-employee-feedback) 11 According to research, employees crave feedback. 12 What they found was that by roughly a three to one margin, employees believe that constructive feedback does more to improve their performance than positive feedback. 13 Frequent Feedback is the Key Annual performance review is way too long to wait for feedback. Feedback needs to be frequent and sincere. 14 Examples Of Companies Switching From Annual To More Frequent Feedback 15 Expedia âThe hope was to create a performance culture that would help to improve both individual and team performance and ultimately drive business results. The emphasis would now be on frequent feedback and coaching and to evaluate the here and now, not just the results.â - Karen Crandall, Former Director of Compensation 16 Twilio âWe donât wait until the annual performance review to give feedback. You never want to have a surprise. This is especially important with millennial workers, who really want feedback. They want to always be learning, always be growing, and theyâre looking for that constant feedback. Itâs not that theyâre looking for constant praise, but rather they want to keep score. They want to know how theyâre doing.â - Jeff Lawson, CEO 17 Adobe âThe check-in is far more informal. While the check-in process is regular and on-going, it starts at the beginning of the year, since itâs tied to people having yearly expectations.â - Donna Morris, SVP 18 Deloitte, Accenture, and even GE are now starting to move away from annual reviews to more frequent feedback. 19 Instead of annual reviews, have regular one-on-oneâs (most people do it monthly) 20 One On One Meetings 1 hour meeting once a month to discuss informally anything on an employeeâs mind. This is NOT a performance update. This is a conversation that is about making the employee happier and more productive at work. 21 Companies Swear By This Process ââ¦if Tim doesnât meet with each one of his employees in the next 24 hours, I will have no choice but to fire him and to fire you. Are we clear?â â Ben Horowitz, The Hard Things About Hard Things, pg. 102 Many well known companies including HubSpot, Moz, and Atlassian, use them, too. 22 How To Run Your One-On-One 10-minutes: Informal catch up 20-minutes: Employeeâs agenda items 20-minutes: Managerâs notes and questions 10-minutes: Action plan and next steps Action Plan Is Most Important What can I hold you accountable for next time we talk? What can I be accountable to you for the next time we talk? 23 Feedback and Culture 24 Culture is the story we tell ourselves, and each other, about where we work. 25 Corporate Culture and Performance John Kotter & James Heskett Increased revenues four times faster Had 7 times higher job creation rates Increased stock prices 12 times faster Had 750 percent higher profits Grew net income by 700 percent Doubled customer satisfactionÂ Reduced turnover Organizations that made culture an integral part of their strategyâ¦ 26 Feedback: part of your narrative How welcome is it? How is it received? How often is it acted on? How often is it solicited? How often is it given? How is it given? 27 1. Partner with managers 2. To create a feedback culture, create a culture for feedback 3. Ask, ask some more, then keep asking 4. Reward and recognize feedback 5. Cultivate trust 6. Architect feedback opportunities Tips for getting started 28 âLike any habit, implementing an employee feedback system may take a bit of time to get used to. But the payoff is bigâempowered employees, increased productivity and extraordinary innovation.â -David Hassell, CEO 29 Collecting Feedback with Surveys 30 Avoid Leading Words Consider this example: âWe recently updated our intranet to be easier to navigate and more user-friendly. What do you think of it?â Instead, keep your question neutral and simply ask âWhat are your thoughts on the new intranet?â 31 The more questions you ask, the less time your respondents spend, on average, answering each question. - SurveyMonkey Research https://www.surveymonkey.com/blog/2011/02/14/survey_completion_times/ 32 Ask Open Ended Questions The easiest thing to do is to ask closed questions like multiple choice and opinion scales, but youâll get the most value from open-ended questions that let employees speak their minds freely. 33 Only Ask Whatâs Necessary Be relentless in removing questions from your survey. Only ask whatâs absolutely necessary. Any distractions or other noise will only dilute the quality of what youâre really looking for. Always start with the goal in mind. 34 Anonymity Unfortunately, thereâs so much fear in most cultures that we need to give employees an anonymous voice to express whatâs on their mind. 35 Feedback and Performance 36 37 Performance Reviews of performance reviews end up decreasing employee performance -â Psychological Bulletin of executives believe their current program doesnât result in performance or engagement. â Deloitte 30% 58% of companies are now reconsidering their performance strategy. â Bersin 70% of companies surveyed think performance reviews are worth their time â Deloitte of HR executives say yearly evaluations are useful. â Deloitte 6% 2% of workers are dissatisfied with their performance reviews. â Deloitte 80% of employees with highest performance scores arenât actually the highest performers â CEB 2/3 -5% improvement in performance is all managers believe will be generated in the process. â CEB 3% 38 Performance Reviews 39 âYou rate me on âMarcus makes decisions quicklyâ and your rating reveals simply whether I make decisions more quickly than you do. If you rate me on âMarcus is a good listenerâ and we learn only whether I am a better listener than you. All of these questions are akin to you rating me on height. Whether you perceive me as short or tall, depends on how short or tall you are." Idiosyncratic Rater Effect Marcus Buckingham Harvard Business Review 40 Performance Reviews Overgeneralization Random measurement error Interpretation error Idiosyncratic rater effect Recency Bias Confirmation Bias Faulty memory syndrome Quantification of past behaviors is ineffective We tend to let it stand for more than it should Negative psychological impact (defensive and demotivating) Too many variables Too often rater is unqualified (doesnât understand job) Shown to decrease morale Found to create infighting Leads to âgamingâ and politics Too subjective Too infrequent Too much focus on past, not enough on future Too costly Takes too much time Too despised 41 âPerformance appraisals are perhaps the most reviled standard practice in all of management.â Performance Appraisals - Peter Cappelli Wharton School of Management âWhy we love to hate HRâ HBR 42 43 â98% percent of human resources executives say yearly evaluations arenât useful. So why are companies still doing them?â Performance Appraisals - Anne Fisher Fortune 44 70% of companies are now reconsidering their performance strategy - Bersin 45 The Right Way 46 Frequent Feedback Increase communication touch points 47 Signal to Noise Ratio 48 Increase Cycle Time Intended Direction Actual Direction Donât wait till here Catch them here And here Organizational Waste 49 Ask Simple Questions 1.Â GivenÂ whatÂ IÂ knowÂ ofÂ thisÂ personâsÂ performance,Â andÂ ifÂ itÂ wereÂ myÂ money,Â IÂ wouldÂ awardÂ thisÂ personÂ theÂ highestÂ possibleÂ compensationÂ increaseÂ andÂ bonusÂ [measuresÂ overallÂ performanceÂ andÂ uniqueÂ valueÂ toÂ theÂ organizationÂ onÂ aÂ five-point scale from âStrongly agreeâ to âstrongly disagreeâ]. 2.Â GivenÂ whatÂ IÂ knowÂ ofÂ thisÂ personâsÂ performance,Â IÂ wouldÂ alwaysÂ wantÂ himÂ orÂ herÂ onÂ myÂ teamÂ [measuresÂ abilityÂ toÂ workÂ wellÂ withÂ othersÂ onÂ theÂ five-pointÂ scale]. 3.Â ThisÂ personÂ isÂ atÂ riskÂ forÂ lowÂ performanceÂ [identifiesÂ problemsÂ thatÂ mightÂ harmÂ theÂ customerÂ orÂ theÂ teamÂ onÂ aÂ yes-or-noÂ basis]. 4.Â ThisÂ personÂ isÂ readyÂ forÂ promotionÂ todayÂ [measuresÂ potentialÂ onÂ aÂ yes-or-noÂ basis]. Performance Questions Now Asked By Deloitte 50 Giving Feedback 51 The secret to having employees listen to your feedback is whether or not they respect you. Respect is earned, incredibly hard to get, and requires authenticity. 52 You could have the exact same thing said by two different people with two completely different effects. 53 Focus On The Issue, Not The Person Example of what not to do: âI really donât like your writing style. Your posts are too short and they add little value to our readers.â This isnât constructive feedback, itâs a personal attack. 54 What you should say instead: âBased on research Iâve seen,blog posts with more than 2,500 words tend to perform better. Maybe we could try to make our posts a little bit longer? You can use that extra length to go way deeper into detail, which should add more value to our readers. That would be awesome!â 55 Make Your Feedback Specific Example of what not to do: âOverall, good job on the presentation but I think it could have been better. This is so vague. What was wrong with it? Plus, just because you didnât like it, does it necessarily mean it was bad? How could it have been better?â 56 What you should say instead: âHonestly, great job on the presentation! I really liked how you used animations to make your point about our Facebook marketing. One small comment, maybe for next time, would be to put a few more statistics in there. Try and make it a bit more visual, I think it will have more of an effect.â 57 Make Feedback A Positive Thing The word âfeedbackâ usually has a negative association. The reason for this is because most of our experience with feedback has been about criticism instead of improvement. 58 When an employee hears their manager say âI have some feedback for youâ the first thought in their mind is âOh boy.â As a manager, you should approach the feedback process from an angle of coaching and genuinely trying to make an employee better. 59 Donât Do The Feedback Sandwich It doesn't work. Usually, the negative feedback is buried and not specific Employees only hear what they want. So if you say âYouâve been doing a great job, but one thing Iâd change isâ¦â, they stop listening after âyouâve been doing a great job.â (source - A research paper, âTell Me What I did Wrong: Experts Seek and Respond to Negative Feedback,â) 60 "A new market has emerged: Employee feedback apps for the corporate marketplace. These tools are powerful and disruptive, and they have the potential to redefine how we manage our organizations." -Bersin, by Deloitte 61 Our environments are in a constant state of change Organizations that evolve, survive Feedback loops are the key to evolution 3 Fundamental Truths 62 Thank you! BambooHR Free Trial: Try BambooHR to organize, automate, and elevate in 2016 We will contact everyone within the next few days with the download URL and to set up a trial account. Get the free eBook: "A Manager's Guide To Giving Employee Feedback" officevibe 63 Questions? Rusty Lindquist WWW.BambooHR.COM Jacob Shriar www.OFFICEVIBE.COM @rustylindquist linkedin.com/in/rustylindquist @jacobshriar linkedin.com/in/jacob-shriar-56199324 64